Chevy is currently working on the next-generation Chevy Volt plug-in hybrid, which is expected to arrive sometime next year. According to the latest reports, Chevy may be working on two versions of the Volt – a cheaper version with shorter electric range, and a fully-electric Volt with a 200-mile driving range.

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News about the Chevy Volt has slowed down in recent months, but Chevy is quietly working on the next version, which is expected to debut next January at the Detroit Auto Show. What we do know about the next Volt is that it will be significantly cheaper than the current version. Former GM CEO Dan Akerson went on record several times when he stated that the goal for the next Volt was cut the car’s cost by at least $10,000. GM currently loses money on each Volt it sells.

Related: GM Drops Starting Price of 2014 Chevy Volt by $5,000

How much of that cost savings will be passed on to the buyer? It’s not known, but Chevy could lower the starting price of the next Volt to around $30,000 before any federal or state tax credits. If Chevy does find a way to reduce the price of the next Volt, it’s could come at a cost to the Volt’s driving range. The cheaper Volt may have a shorter electric driving range than the current Volt, which can travel up to 38 miles. For buyers that are considering fully electric models like the Tesla Model S, Chevy is reportedly working on a second fully electric Volt that can travel up to 200 miles. The design of the next-generation 2016 Chevy Volt is not expected to be drastically different than the current model.

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Via Clean Technica